Cabinet denies raising income tax in new draft law

CAIRO - 26 September 2019: The cabinet's media center has denied reports about raising the income tax.

In a press release on Thursday, the center said it contacted the Finance Ministry, which categorically dismissed these reports as "baseless".

The ministry said the new income tax bill does not include any fresh increase, adding that it was only drafted to introduce amendments to some vague articles in the current law.

It added that the Egyptian Tax Authority has already finalized the first copy of the new income tax bill.

The ministry appealed to all mass media outlets and social media users to seek accuracy before spreading these groundless reports to avoid sparking the public opinion.